New Zealand's seasonally adjusted current account deficit was $2.7 billion in the June 2018 quarter, $484 million narrower than in the March 2018 quarter.

The annual current account deficit increased to $9.5 billion for the year ended June 2018 (3.3% of GDP), up from the $7.1 billion deficit for the June 2017 year (2.6% of GDP).

In the June 2018 quarter:

• The seasonally adjusted goods deficit narrowed to $1.4 billion (down $332 million.

• The seasonally adjusted services surplus increased to $1.5 billion (up $146 million).

• The primary income deficit narrowed to $2.5 billion (down $118 million).

• The financial account had a net outflow of $1.7 billion.

At 30 June 2018:

• Our net international liability position was $157.9 billion (54.6% of GDP), similar to the $156.2 billion (54.6% of GDP) at 31 March 2018.

• Our net external debt was $150.8 billion (52.1% of GDP), up from $150.2 billion (52.5% of GDP) at 31 March 2018.